Marcomara: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
Marcomara
Largest movements
- Cash +€52,926
up €52,926 (+74.5%), from €71,063 to €123,990
mainly Net result for the year (+€28,877) and Tax, wage and social debts (+€14,284)
- Tangible fixed assets -€7,611
down €7,611 (-26.4%), from €28,839 to €21,228
of which Leasing and similar rights: -€5,134
- Intangible fixed assets -€4,900
down €4,900 (-60.0%), from €8,167 to €3,267
- Receivables within one year -€3,631
down €3,631 (-45.1%), from €8,058 to €4,427
of which Trade receivables: -€2,845
- Deferred charges and accrued income -€2,699
down €2,699 (-48.7%), from €5,545 to €2,846
- Profit (loss) carried forward +€23,556
no longer reported in 2025 (was -€23,556)
- Tax, wage and social debts +€14,284
up €14,284 (+39.8%), from €35,902 to €50,186
of which Remuneration and social security: +€7,962
- Trade debts +€6,257
up €6,257 (+391.2%), from €1,599 to €7,856
- Other debts -€6,210
down €6,210 (-18.5%), from €33,480 to €27,270
- Debts after one year -€5,380
down €5,380 (-43.1%), from €12,497 to €7,117
- Gross operating margin +€84,363
up €84,363 (+27.3%), from €308,524 to €392,887
- Staff costs +€26,410
up €26,410 (+8.4%), from €314,157 to €340,567
- Taxes +€6,007
up €6,007 (+4693.2%), from €128 to €6,135
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €138,979 | €171,994 | +€33,015 | +23.8% |
| Fixed assets | 21/28 | €42,724 | €30,213 | -€12,511 | -29.3% |
| Intangible fixed assets | 21 | €8,167 | €3,267 | -€4,900 | -60.0% |
| Tangible fixed assets | 22/27 | €28,839 | €21,228 | -€7,611 | -26.4% |
| Land and buildings | 22 | €696 | €362 | -€334 | -48.0% |
| Plant, machinery and equipment | 23 | €11,504 | €9,361 | -€2,143 | -18.6% |
| Leasing and similar rights | 25 | €16,638 | €11,505 | -€5,134 | -30.9% |
| Financial fixed assets | 28 | €5,718 | €5,718 | = | 0.0% |
| Current assets | 29/58 | €96,255 | €141,781 | +€45,526 | +47.3% |
| Stocks and contracts in progress | 3 | €11,588 | €10,518 | -€1,070 | -9.2% |
| Stocks | 30/36 | €11,588 | €10,518 | -€1,070 | -9.2% |
| Amounts receivable within one year | 40/41 | €8,058 | €4,427 | -€3,631 | -45.1% |
| Trade receivables | 40 | €3,400 | €555 | -€2,845 | -83.7% |
| Other amounts receivable | 41 | €4,659 | €3,872 | -€787 | -16.9% |
| Cash at bank and in hand | 54/58 | €71,063 | €123,990 | +€52,926 | +74.5% |
| Deferred charges and accrued income | 490/1 | €5,545 | €2,846 | -€2,699 | -48.7% |
| Total equity and liabilities | 10/49 | €138,979 | €171,994 | +€33,015 | +23.8% |
| Equity | 10/15 | €44,389 | €73,266 | +€28,877 | +65.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €49,344 | €54,666 | +€5,321 | +10.8% |
| Distributable reserves | 133 | €49,344 | €54,666 | +€5,321 | +10.8% |
| Profit (loss) carried forward | 14 | -€23,556 | - | +€23,556 | |
| Amounts payable | 17/49 | €94,590 | €98,728 | +€4,138 | +4.4% |
| Amounts payable after more than one year | 17 | €12,497 | €7,117 | -€5,380 | -43.1% |
| Financial debts | 170/4 | €12,497 | €7,117 | -€5,380 | -43.1% |
| Amounts payable within one year | 42/48 | €76,035 | €90,257 | +€14,222 | +18.7% |
| Current portion of amounts payable after more than one year | 42 | €5,054 | €4,945 | -€109 | -2.2% |
| Trade debts | 44 | €1,599 | €7,856 | +€6,257 | +391.2% |
| Suppliers | 440/4 | €1,599 | €7,856 | +€6,257 | +391.2% |
| Taxes, remuneration and social security | 45 | €35,902 | €50,186 | +€14,284 | +39.8% |
| Taxes | 450/3 | €3,600 | €9,921 | +€6,322 | +175.6% |
| Remuneration and social security | 454/9 | €32,303 | €40,265 | +€7,962 | +24.6% |
| Other amounts payable | 47/48 | €33,480 | €27,270 | -€6,210 | -18.5% |
| Accrued charges and deferred income | 492/3 | €6,057 | €1,354 | -€4,704 | -77.7% |
| Remuneration, social security and pensions | 62 | €314,157 | €340,567 | +€26,410 | +8.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,333 | €14,102 | -€232 | -1.6% |
| Other operating charges | 640/8 | €920 | €770 | -€150 | -16.3% |
| Gross operating margin | 9900 | €308,524 | €392,887 | +€84,363 | +27.3% |
| Operating profit (loss) | 9901 | -€20,887 | €37,448 | +€58,335 | |
| Financial income | 75/76B | €427 | €550 | +€123 | +28.9% |
| Recurring financial income | 75 | €427 | €550 | +€123 | +28.9% |
| Financial charges | 65/66B | €2,968 | €2,986 | +€18 | +0.6% |
| Recurring financial charges | 65 | €2,968 | €2,986 | +€18 | +0.6% |
| Profit (loss) for the period before taxes | 9903 | -€23,428 | €35,012 | +€58,440 | |
| Income taxes | 67/77 | €128 | €6,135 | +€6,007 | +4693.2% |
| Profit (loss) for the period | 9904 | -€23,556 | €28,877 | +€52,433 | |
| Profit (loss) for the period to be appropriated | 9905 | -€23,556 | €28,877 | +€52,433 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.